20336 Elm Dr

Granby, MO 64844

$89,900C

3 bd · 2.0 ba · 1,604 sqft · Built 1998 · Manufactured · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,005/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$89
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $234/mo
• Annual: $2,812/yr
• Cap rate: 9.42%
• Cash-on-cash: 11.17%
• DSCR: 1.50
• 1% rule: 1.12%
• Cash to close: $25,172

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $90k.
• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#462 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B; Watch: amenities F, commute F, employment F.
• East Newton County R-VI (rural): math 30% / reading 35% proficiency, ranked #248 of 324 in MO (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Granby (math 26% / reading 32%, grade F, #842 of 1,115 statewide, top 76%, 587 students, 65% FRL); East Newton High (math 47% / reading 47%, grade D-, #155 of 521 statewide, top 32%, 431 students, 55% FRL).
• Market conditions: 41 active listings in the ZIP; 110 units permitted in Newton County in 2024 (40 in 5+ unit buildings).
• Newton County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.